Ukraine: Decline in industrial activity softens in July
August 25, 2020
Industrial production fell 4.2% over the same month last year in July, after it dropped 5.6% in June—marking the softest decline since February.
Looking at the details of the release, July’s weaker decline was driven by a rebound in utilities supply output and a less severe contraction of the mining and quarrying sector. Manufacturing production, however, declined at a sharper pace than in June.
Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 5.5%, down from June's minus 5.0%.
Author: Javier Colato, Economist